St. John's University Students Compete to Sponsor-a-Family

With the holiday season approaching, directors and administrators of campus ministry at St. John's University had just one question: how can we collect more toys?

Every Christmas season, St. Johns University partners with Bread and Life, a non-profit organization based out of Bed-Stuy, Brooklyn, to provide food and toys for families who are grazing, or below, the poverty line.

First, Anthony Butler, Executive Director of Bread and Life, pre-selects a range of toys based on the "overall budget," which the families chose from. Then, once the requests are in they're sent out to the organization's partners.

St. John's contributes about 20-percent of the total amount of toys they receive annually, according to Butler, but the vast majority doesn't come from students. Jimmy Walters, assistant director of residence ministry, says there are two main contributors.

One is the Alumni who attend the annual Winter Carnival the university hosts, who give a toy in exchange for admission. The other, he says, is the Sunday morning parish community, who attend the St. Thomas Moore church on campus, and located in the lobby is a small lighted tree filled with dangling paper ornaments with specific toy requests, from matchbox cars to Elmo sticker books.

Tori Migliore, the director of campus ministry, challenged Walters and others, to come up with a new and creative approach to get students living on campus interested in becoming contributors. In a meeting, they brainstormed and were able to come up with something: a competition.

The competition would be among students living in the 9 residence halls in and around campus to see who could collect the most toys for the Sponsor-a-Family program this year.

They decided to call it the St. Nicholas Award, in honor of the Catholic feast of St. Nicholas that falls on the 6th of December, and the prize is a golden trophy, donated by a student's father, which resembles the Stanley Cup. Only this cup has golden Santa Claus perched at the top, grinning jovially at the victors.

Christmas trees, akin to the one in the campus church, were set in the lobby's and resident assistant offices in each residence hall. The students had a week and a half to collect the most toys and become the first recipients of the St. Nicholas award.

St. John's offered a full day of shuttle service to take students to toy stores, which Walters says, aren't close to the campus. He says he's aware of the transportation difficulties, and the fact that "college kids don't have much money."

"It wasn't as much as a success as we expected," he says, but it was by comparison. Donations by students in the four years he's held the position? Zero. This year? 15 total.

This was the first time out, he says, and there are still "many kinks to be worked out," such as giving notice in mid-November, instead of after students returned from thanksgiving break, as they did this year.

Despite the low turnout for the toy competition, St. John's donations were "gracious" according to Butler, and they were able to fulfill the quota this year. As Christa Treitmeier-Meditz, the sponsor-a-family coordinator shouts to the volunteers before they begin to pack the toys to deliver to the families,

"this year we have enough so that every single child gets a toy," all 2,500 of them.

Once the toy's have been collected, they are sent over to Bread and Life in Brooklyn, and volunteers from St. Johns package them to be delivered to the families in need.
Below are some photos of the process.

Counterinsurgency and Afghanistan: the right strategy?

The American people want to know if what our objective is with the war in Afghanistan, and President Obama is set to reveal the US' next move to the nation sometime next week.

But what are the problems that we face over in Afghanistan? What's our strategy?

A panel made up of experts ranging from retired lieutenants to current and former government advisers on foreign policy, tried to provide some insight into this complex matter at a day-long conference at NYU School of Law’s Center on Law and Security titled, Counterinsurgency: America’s Strategic Burden.

What is counterinsurgency also known as COIN?

R. Scott Moore, the current director for Strategic Initiatives in the Office of the Deputy Assistant Secretary of Defense for Partnership Strategy, in the Small Wars Journal defines it as such:

“It is an integrated set of political, economic, social, and security measures intended to end and prevent the recurrence of armed violence, create and maintain stable political, economic, and social structures, and resolve the underlying causes of an insurgency in order to establish and sustain the conditions necessary for lasting stability.”

This is General McChrystal’s, the U.S Commander in Afghanistan, strategy in moving forward with the war addressed in a report to the President, requesting at least 30-thousand more troops to be deployed overseas to accomplish this 'endgame' of stability.

One of McChrystal main goals, according to Montgomery McFate, currently a Senior Social Scientist for the US Army’s Human Terrain System and part of the panel, is to move civilian support from insurgent groups to a legitimate government the US is trying to create.

But, as McFate points out, there are problems associated with institution building in “someone else’s country,” by those (the U.S) who are viewed by the Afghan’s as a “behemoth that has no idea what’s going on.”
And in order to do so, McFate says, “it has to be done in conjunction with locally existent institutions” rather than building and imposing our own.

Adam L. Silverman was the Field Social Scientist and Team Leader for Human Terrain Team Iraq, and has lectured on COIN, Iraq, and Afghanistan at the US Military Academy, agrees that there is a need to establish a legitimate government in order to reconcile social elements, which is at the core of much of the conflict.

But Silverman has one question: “Can that even be achieved?”

To make such an operation successful, Silverman advises that the main concentration be to “empower at the lowest level” by getting an understanding of the population in the context of the Afghan culture, because “what may be good for one culture, may not be for another.”

He says that the US has to “stop mirror imaging,” because “what’s good for us isn’t good for the rest of the world.”

It's the US persistent engagment of a "mirror imaging" type strategy, says Thomas Johnson, who has conducted research and written on Afghanistan and South Asia for over two decades and whose commentaries have appeared in media outlets such as BBC, CNBC, and the Wall Street Journal, that the problem lies, as seen in the recent controversy behind election of Hamid Karzai, the now president of Afghnistan.

The Afghan civilians question Karzai's “legitimacy," as well as the elections that brought him into power.

“The notion that the West can apply its rule of elections and law like a ‘coat of paint’ is simply wishful thinking,” Johnson said in his article with M. Chris Mason, titled Afghanistan and the Vietnam Template.

Karzai, according to Johnson, was seen as illegitimate up to five years prior to his election as president, and the election itself lacked “any traditional or religious” legitimacy normally established in Afghan tribes, and thinks that the tribal leadership dynamic should act as a blueprint in establishing a legitimate and operative government in Afghanistan.

“Elections don’t make democracies; democracies make elections. It’s beyond our power to change an entire society,” and cultures are inherently resilient and resistant to change.

There are “real bureaucratic and institutional barriers” to the type of success the government and military would like to achieve in Afghanistan, according to Janine Davidson, who oversees the development of guidance for military campaign and contingency plans.

The problem, Davidson says, is with an overall ambivalence about the US’s role with Afghanistan among the American people.
“It’s hard to develop a strategy when there’s debate about whether we should be there in the first place.”

Dr. John Nagl, the President of the Center for a New American Security, agrees with Davidson, that we will need “continued American commitment” in order to be successful in Afghanistan.
“This era of persistent conflict will not end anytime soon,” and the mission has been “all but criminally neglected over the past 8 years.”
Nagl believes that our endgame of stabilization could be accomplished partly through establishing a strong Afghan National Army, which would require more US troops to recruit and train Afghan’s, and troops currently are being stretched almost beyond capacity.

Conrad Crane, director of the US Army Military History Institute at Carlisle Barracks, Pennsylvania, also agrees that the definition of legitimacy, as it pertains to Afghan culture, has more to do with security than anything else.

Dr. David Kilcullen, a globally recognized expert on counterinsurgency and counterterrorism thinks that a society has to feel safe enough to engage in political discourse, and building a civil society requires security. It is then that a legitimate government can be estalished.

Nir Rosen, a journalist that’s reported from Afghanistan, Pakistan, and spent over four years from Iraq, disagrees that more troops would establish the security Afghans are seeking.
“Our presence is part of the problem, and there’s more and more hostility” because of it and they are turning “more and more against our presence there.”

Michael Sheehan’s, known for his work in counterterrorism, peacekeeping, and law enforcement operations, view was similar to that of Rosen’s.
“We should be stepping back and allowing the host country to do their job.”
And when asked about the presence of the US in Afghanistan responded that the “US footprint should be as close to zero as possible.”

Sheehan argued that less is more in counterinsurgency, and at one point we have to ask ourselves, to what extent do we “contribute to the problem your solving?”
Sheehan brought up the capture of al-Quaeda leaders in West Pakistan as proof that a large presence isn’t necessary to achieve your “base objective.”

The president has steadily increased the troop presence in Afghanistan this year, authorizing the deployment of an additional 17-thousand troops in Feburary.
This year has also marked the highest in military casualties since the start of the war, with 297 deaths, 155 in 2008, and 12 in 2001.

President Obama’s address to the nation regarding his “endgame” and the US’s next move forward is set to take place at some time next week, and the American people just wait in hopes for an answer or a solution in what appears to be, as Adam Silverman pointed out:
“By and large out of their area of expertise.”

Shifting Costs from One Group to Another

A provision in a House health-care bill could benefit one age group at the expense of the other.

According to this Wall Street Journal article, in an effort to help reduce the high-cost of premiums that the elderly pay, they would be capped at a lower amount than those in the younger age brackets.

The cost for health-care, then, wouldn't just be determined by income anymore, but also by age.

This system sets up the potential of just shifting the cost.

Because while the elderly will pay lower premiums, they normally require the most medical care, and the costs will have to be compensated for in some way.

The bill would also require health-insurance to be mandatory, or else will face the penalty of paying a fine.

This, according to the article, could force the younger population to make them buy expensive policies they don't want.

These costs weight most heavily on the age group that have low-paying jobs, who are in transition from school to a career, or in an just starting out in an entry-level position.

Renee Rotherberg, 23, moved from New York to Massachusetts in an effort to receive more affordable health-care for all of the ailments that she suffers with on a daily basis at such a young age. Rothberg has been diagnosed with bone spurs, fibromyalgia, bipolar disorder, and a slip-disk from a car accident that she was in four years ago, and has to take five different medications daily in order to function what she terms as, "like a normal person."

"It just doesn't make any sense to cap or not cap certain health insurance costs based on age," she says. "I understand that the majority of the care is given to the elderly, but there are people like me who would pay severely with a plan like that. I already pay so much as it is!"

How much that is varies Rothberg says. There are times when she has to be prescribed Imitrex for her migraines, which her insurance won't pay for and costs upwards of 100-dollars per pill. Her mental health coverage, she told me, is also very limited. Many of those costs, if you need care long-term, are expensive and paid by the individual.

"Sometimes I just don't bother with that. It's just too much. I'm only 23, and I barely make enough as it is."

Could these compulsory health-care costs deter individuals from seeking care they may need outside of a medical doctor?

Dr. Brooke, a psychologist at MercyFirst, a non-profit human services organization based in Long-Island, deals mostly with juveniles who've been kicked out of their school because of behavioral problems.

"I think about the types of clients I normally deal with", she says. "Currently it's difficult to be able to afford these services past a certain age, unless there's a biological diagnosis such as bipolar disorder or ADHD. But some of these kids don't suffer with that, but rather with personality disorders, which insurance companies won't cover. Mental-health services, unfortunately, then become an added expense."

If the House passes the bill, only time will tell what the real implications of this provision will be.

Macy's "Believes" in Spite of Economy

Despite lagging sales, starting November 6th Macy's is asking investors and America to believe.

After the success of Macy's inaugural 2008 "Believe" campaign, they are continuing with the tradition beginning in early November.

"Believe stations" in every store that features a "believe meter" will be available for children (and adults) to drop off their Christmas wishes, stamped and addressed to Santa at the North Pole.

With every letter, $1 will be donated, up to 1-million, to the Make-A-Wish-Foundation for children with life-threatening medical conditions.

Macy's is continuing the tradition, and keeping in the charitable spirit despite some third-quarter results that aren't so merry.

Sales were down 10-percent from the August 08' quarter, along with a net income, which is how much the company actually earned or lost, decline of 90-percent.

This comes after Macy's has already had to close 11 stores this past year, cutting at least 7,000 jobs, or 4-percent of their workforce.

But same-store sales, stores that have been open at least a year, are at a 2.3-percent decline, up from 9-percent in April, and have "outperformed nearly all of our major competitors in same-store sales," according to Terry J. Lundergren, Chairman, President and Chief Executive Officer, on Macy's website.

Rumors have been circling about the possibility of Macy's filing for bankruptcy, but no reports indicate the company is heading in that direction.

In fact, Macy's stock went from a hold to a buy by Citigroup, according to MarketWatch, because of a new plan entitled My Macy's, based on consumer research. The company will be focusing more on consumer needs on a location-by-location basis to help drive-up sales.

According to the Associated Press in 2008, Macy's was projected to be one of the hardest hit retail companies because of the financial crisis, and the quarterly results indicate that they may not be too far off.

Regardless, Macy's will be continuing to "believe", adding a Santa tour this year that will stop in 25-cities across the U.S until December 24th, lightening the spirit of young girls and boys, providing an escape away from a grim economic reality.

What will you be this Halloween?

With 47-million adults and 58-million children planning on dressing up this Halloween, according to the National Retail Federation, it's apparent that this is a major part of the American Halloween experience.

And what we chose could reveal something about us.

Sometimes a costume is just a costume, and other times it may carry some deeper psychological meaning.

Dr. Darwin Dorr, a psychology professor at Wichita State University, told Psychology Today that some costumes may fall into Carl Jungs architype of 'the shadow',described as the unconscious part of you that you don't particularly like, but are able to express on Halloween.

"You may see a demure woman costumed as a dominatrix, or a straight man dressed in drag," he said in the article.

Carl Jung, founder of analytic psychology, also known as Jungian psychology, explored dreams, mythology, religion, along with direct observation, and concluded that human behavior fell into what he termed as archetypes.

Archytypes, as defined by Jung, are unconscious and conscious patterns of behavior, and could provide some insight into why we chose a certain costume during the one time of year when we are able to express ourselves in almost any way we desire.

Along with 'the shadow', is the Anima and Animus, which (among other functions) can act as a bridge between the conscious and the unconscious parts of the personality, according to Jane Cicchetti's book, Dreams, Symbols, and Homeopathy.

This archetype is commonly expressed fictionally as super-heros and gods, who possess unusual power and amazing skill, and choosing these types of costumes could be a way to explore this part of our subconscious.

Jolanda Loshi, 21, says that it all depends on what's going on that year that determines what she will be for Halloween, and could go from one extreme to the other.

"I usually pick what I'm going to be on a whim", she says. "One year I was a vampire, with blood and everything. The next I was a sexy-cop with high boots."

Participating in Halloween since she came to this country from Albania when she was 13, Loshi has found this "American tradition" to be an interesting opportunity to express herself.

She is now part of the billion-dollar-a-year revenue generating holiday that allows children and adults alike to become whatever it is they've fantasized about being.

The Appeal of a Haunted House

Roaring chainsaws search for you, clowns bearing an eerie smile glare into your eyes, and the dead stroll right along side you:
Welcome to the Haunted House.

It begins on the line, before you enter.

Blood-curdling screams echo from the mansion walls, as patrons wait in wonder for what lies behind that black wooden door.

They’re here for the thrill, and will spend upwards of $50 to get it.

It’s like living through your favorite horror movie step by step, scene by gruesome scene.

Christ Zanin is the casting manager of Kevin McCurley’s Haunted Mansion in Poughkeepsie, New York. He likes to prep his actors before showtime:

"I want blood guts and gore, and I want a whole lot
more. You are all possessed by Satan himself."

A mass-murderer that can’t control his compulsion to kill, slices up his victims right in front of you, while fake blood squirts from his wounds.

He barrels with laughter as you run away terrified, into the next scene.

What makes this macabre experience so alluring?

Patrons say it’s a way of dealing with death and their own mortality. Psychologists think it’s also a release of aggression through socially acceptable behavior.

Dr. John Hogan, a St. Johns University Professor of Psychology thinks that it's a "way to express these emotions in an artificial and fictitious environment."

According to Eric Minton, in his article for Psychology Today, this type of environment is all about playing on your fears.

The creators of the Haunted Houses, he says, "are masters at exploiting our fear of dying, especially in a gruesome manner."

The scare, according to the article, is based on two main elements: there's something there and it does something that you don't expect it to, or nothing's there and it appears, and it's the adrenaline that results from either experience that people are seeking.

According to a New York Times article titled, "The Thrill of Being Scared Keeps Fright Industry Going" other psychologists agree there's a "rush people get facing fear", and one of the top ranked fears among human beings is death;
the main element of the Haunted House.

Homeless Shelter Occupancy at all Time High

The report released by the Coalition for the Homeless today showed that the homeless shelter population has reached an all time high.

There are now "more than 39,000 homeless adults and children sleeping in the New York City shelter system each night – the first time ever the shelter population has reached this level", according to the report, and blamed Mayor Bloomberg's policies for exacerbating the problem, and urging that they "must be abandoned" to bring about improvements.

According to the New York City Department of Homeless daily report, on October 16, 16,441 out of the 38,062 people living in homeless shelters were children.

One of Bloomberg's policies is "cutting of homeless New Yorkers from Federal housing assistance." According to this New York Times article, there are stipulations that are involved in cutting off the funding, and its purpose is to act as a deterrent for families seeking long-term housing in an homeless shelter.

According to the article, costs for housing a family has risen in recent years to about $36,000 a year, and the average stay is approximately nine months. The state is also seeking an approval for a 4-percent budget cut to shelters come January.

Critics of the plan, such as Bonnie Stone, the executive director of Women in Need, a shelter for women and children, don't think that this action will have its intended results of curbing homelessness.

But Mayor Bloomberg's current and proposed policies may be more of a contributor, rather than a main cause, to the growing problem.

According to a report by the National Coalition for the Homeless released in July of 2009, reasons for the epidemic could be due to factors occuring after the 2008 financial crisis, such as foreclosures and difficulty finding employment.

It found that there was 32-percent increase in the number of foreclosures between April 2008 and April 2009, and "40 percent of families facing eviction due to foreclosure are renters and 7 million households living on very low incomes are at risk of foreclosure."

When a family is of low-income, or grazing the poverty line, they have to make tough choices such as whether to pay their rent and utilities, or buy food for their children. They can't afford the luxury of paying them all.

A possible glimmer of hope in this situation is in a report released by the U.S Department of Labor last week, citing recent statistics indicating that there has been a six-week decline in the number of newly-filed unemployment benefits, which could be a sign that lay-offs and cost cutting are no longer necessary to produce some earnings in businesses.

In essence, it could be proof to the FED Chairman Ben Bernake's claim that "the recession is likely over."

In approaching the winter months, one could only hope that with the economy seeing signs of redemption and renewal, these homeless families will then be able to experience the same.

Housing at St. Johns University

St. Johns offers housing on each of its campus locations in three different boroughs: Manhattan, Staten Island, and the main campus in Queens.

A number of benefits follow with living on campus, mainly the amenities that are already included in the cost of housing instead of the "hidden fees", as Christopher Godfrey, a St. Johns senior put it, that incurs living off campus.

Each room is equipped with multiple data ports, according to the St. Johns website, in order to "assure 24x7 access to phone, cable and the internet."

Along with 24-hour cable and internet access, St. Johns provides security guards which are located in the lobby of each residence hall, to "ensure the safety and identifications of those entering and leaving the building."

Students opinions vary in the benefits versus the drawbacks of life on campus.

According to Cameron Priestley, a senior and journalism major, on-campus living didn't suit his needs as a student, and after dorming for one-year (his freshmen year), he decided he could get more accomplished living off-campus.

"I enjoyed it, but it was not conducive for studying", he said.
"There were three people in one room, and one bathroom shared between two rooms," and so decided to move to Bushwick, Brooklyn, a 20-minute commute to campus.

But it appears that such a problem could be rectified, according to St. Johns website and students such as Sarah Reilly who's a senior at the university, because if you're uncomfortable with your living situation (too many people in a room), once a sophomore you have the opportunity to move to a different housing unit or room.

Fiscally speaking, housing on-campus in Queens, Staten Island, and Manhattan, in a double room amounts to about the same cost of living off-campus, without the added responsibility. With laundry, a gym, and dining on-campus, students don't need to worry about the additional responsibilities of maintaining a rent, electric, and cable bill while attending school.

They have more of an opportunity (if used wisely) to focus on their studies.

Book Review: April and Oliver

April and Oliver are childhood friends reunited after a car accident took the life of April's younger brother, Buddy. Their lives have taken them into separate directions; Oliver pursuing an education in law in California as April messily lives out her life in New York.

It's a tale of dysfunction and romance, coupled with juxtaposing themes, such as finding solace in familiarity while trying to break away from the past. Oliver tries to act as a rational force in April's life, while combating his own demons that are negatively impacting his relationship with his fiance.

The characters are complex, and the themes of dysfunction and first love are relatable to those who've experienced it; demonstrated clearly through Callahan's writing. The novel isn't clouded by enigmatic or convoluted language, therefore could be defined as an easy read.

Although the novel is simplistic in language, the topics discussed are not meant for audiences below the age of 18. Dealing with issues like abuse, adultery, and rape, Callahan brings the reader to a side of life that many don't come across; and some choose to ignore.

April and Oliver is Tess Callahan's first novel. Raised in Long Island, New York, Callahan spent most of her time "studying the fluid, negative shapes of the sky through swaying branches," according to her website. Eventually graduating with an MFA in fiction from Bennington College, Callahan became a mother of twins. Her passion for writing didn't cease, and thus continued to do so "between diaper changes" eventually publishing April and Oliver this year (2009).

Callahan doesn't indicate on her website whether she plans on writing a sequel, or any subsequent novels, but many reviewers (including myself) express a thirst for more, and a hope that this isn't the last we see of her as a novelist.

The Decline of Print Media: a Colloquium at St. Johns University

On Wednesday September 23rd, Associate Professor of Journalism Mark J. Prendergast hosted St. Johns first (and hopefully annual) colloquium in honor of Dr. Roger Wetherington, entitled "Journalism and Democracy."
The panel:

Arthur Browne - current New York Daily News editorial page editor, former editor for Bloomberg L.P, as well as a Pulitzer Prize winner.

Susan Edgerley - has been working with The New York Times since 1989, currently as the Assistant Managing Editor for career development and reinvention of the newsroom, and a former Metro editor.

Dr. Diane Heith - an Associate Professor of Government and Politics at St. Johns, who holds a Ph.D in Political Science, from Brown University, has authored numerous articles including "“Reaching Women: Soft Media in the 2004 Presidential Election Cycle", and "Footwear, Lipstick and an Orthodox Sabbath: Media Coverage of Non Traditional Candidates."

Mark J. Prendergast - currently an Associate Professor of Journalism at St. Johns University, as well as the ombudsman for Stars and Stripes, holds an MA in Journalism from Columbia University. Prendergast was a former editor of the New York Times for 13 years, and also worked for the Washington Post and the Daily News.

The topic of discussion was the decline of print media, its shift to online news, and its potential effect on democracy.
Browne stated that we're "in danger" with such a decline because information that the government doesn't give up willfully "takes work" and every piece of information we don't get becomes a "slice at democracy."
According to Browne, bloggers' "choice of topics are not serious" lacking "any form of serious reporting" that will be needed to pursue the harder bits of information the public needs, and has a right, to know.
Although that statement may have some merit, it's a dangerous thing to generalize. Yes, there are bloggers that use the domain to discuss nonsensical things, but there are others in fact do some serious reporting. Take Talking Points Memo and Footnoted , two informative blogs that report efficiently and thoroughly informing the public on matters of business and politics. Bloggers consist of a diverse population. In the industry of journalism itself, where some recent graduates from journalism school may find themselves unemployed, others, such as 23-year-old Rebecca Harshbarger have taken reporting into their own hands. She reports internationally, straight from Uganda into her own "Uganda Beat."
Dr. Heith points also points out that in spite of a decline in print media, "democracy will survive" because "we vote, and that's what we do in our democracy", and all that's needed is information.
"How do you know that this information is trustworthy?" Professor Prendergast questions, referring some online news mediums. That credibility is essential in order for citizens to make decisions such as "should we go to war or shouldn't we", he said.

Does that decision really lie in the hand of the citizens? And is print media a completely trustworthy source?

In March 2003, according to AEI Public Opinion Studies, a Pew Research Center poll found 59-percent in favor of taking military action in Iraq, and 38-percent of that 59 said that we should only attack Iraq if our major allies agreed to join.

But what information were the American people basing their decisions on?

Assertions were made by President Bush that Iraq was harboring "weapons of mass destruction." Although in January 2003 "no incriminating weapons [were] found" after UN "inspectors [were] allowed to check any suspicious sites nominated by the US or UK," according to Brian Toohey of The Sun Herald based in Sydney, Australia. Yet the American people were still led to believe, by the government and the media (print included), otherwise.

So is it really a question of the information medium that posses a threat to our democracy? Could these facts only have been unearthed from print-news media sources, or could've an online independent done the same?
Is it the decline of print that is a threat to our democracy?

Or is it is something greater?

The Federal Reserve

A lot of what has been dominating the news media recently has to do with the financial crisis of 2008, and how it is still effecting our economy and job markets today. An institution that has a significant influence over where our money is allocated, the decision to buy up Fannie Mae and Freddie Mac, and other major financial decisions in this nation come directly from The Federal Reserve. In fact, the FED is what controls, regulates, and overseas the United States' banking system. Each dollar we hold in our hand is what's known as a Federal Reserve Note, a debt that is owed to the FED by the U.S Treasury.
In order to discern the news and attain a basic understanding of business and regulation in this country, one must become acquainted with the Federal Reserve, its roles, and how this institution affects our lives, much like the role of the government.

The current Chairman is Ben Bernanke who achieved his Ph.D in Economics from MIT. His thesis was titled, ""Long-term commitments, dynamic optimization, and the business cycle" - relating to the Great Depression and its causes. (source)

Below is a video that explains how the Federal Reserve came into existence, and how it operates our financial system.



Texas Congressman, Ron Paul speaks on the Fed. Reserve and the current crisis:

The Banking Regulatory System

With the one year anniversary of what Frontline on PBS called "The Meltdown" on Wall Street, reoccurring blame has been placed on the "lax regulation" of Wall Street, which includes investment banks and credit lenders. While the U.S. government decided how to handle the companies involved that were considered "systemic-risk", who had purchased toxic assets that were allowing their companies, along with many others in finance, to thrive. Actions were taken immediately (such as TARP and other federal funded assistance), along with talks of increasing the Federal Reserves powers to assist in future oversight in order to avoid another 'mortgage bubble' that severely shook the U.S economy and our capitalist system.
Lax regulation has been deemed one of the main reasons why the Wall Street collapse starting in September of 2008 occurred, but isn't the only theory that economists and law makers alike pose when analyzing the crux of the collapse; but is amongst the more commonly known.
The question is, how much regulation is needed? Is the fault with the amount of regulation, or does it lie with the quality of the committees and the regulators themselves?
To try and answer that question for ourselves, I've provided a list of just a few regulators that were actively overseeing the financial system during not only the financial collapse of October 2008, but also during the Bernie Madoff "ponzi scheme."

Clicking on the regulators will direct you to their website. Keep in mind that these are all government entities that report to directly to Congress.

Federal Reserve System : which lists its regulatory duties, including (but not limited to):

"Risk-Focused supervision, Supervision of International Operations of U.S. Banking Organizations, and Formation and Activities of Financial Holding Companies."

Federal Deposit Insurance Corporation: Duties which include:

"Examining and supervising financial institutions for safety and soundness and consumer protection"

Office of Comptroller of Currency - Who's stated objective in their website is:

"To improve the efficiency and effectiveness of OCC supervision, including reducing regulatory burden, along with ensuring the safety and soundness of the national banking system."

National Credit Union Administration: Established in 1934 after President Roosevelt signed the Federal Credit Union Act in order to "make credit available and promote thrift through a national system of nonprofit, cooperative credit unions." The NCUA is a:

"Independent federal agency that charters and supervises federal credit unions."

Office of Thrift: This office was also established after the Great Depression in the 1930's to supply "affordable home financing for Americans from all walks of life" that provided mortgage funding for savings associations across the country.

"The OTS is the federal bank regulator and supervisor of a dynamic and diverse industry of savings associations and their subsidiaries spread across the nation."

Federal Financial Institutions Examination Council:

"The Council is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) and to make recommendations to promote uniformity in the supervision of financial institutions."

Conference of State Bank Supervisors: Founded in the early 1900's to "solve common problems of state bank regulators"

CSBS works to: "Optimize the authority of individual states to determine the activities of their financial institutions."


U.S Securities and Exchange Commission :

"The SEC oversees the key participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisers, and mutual funds. Here the SEC is concerned primarily with promoting the disclosure of important market-related information, maintaining fair dealing, and protecting against fraud."

All quotations were taken directly off of the committee's websites.

Texting and Driving

The New York Times in this article here, touches on an issue that many Americans do while behind the wheel: instead of focusing their attention on the task at hand (driving); they're texting.
Motor vehicle operators appear to be taking their task lightly, not fully realizing that what they're operating has the power to take lives; including their own.
It's important that more people become aware of the dangers of such behavior, and that their full attention is required while operating a motor vehicle. Hopefully, when people are provided with knowledge, they will act accordingly with what they know.

The harsh realities driving while distracted, graphically demonstrated here: